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114-hr-5660114th Congress

Retail Checking Account Protection Act of 2016

Sponsored By: Representative Williams, Roger [R-TX-25]

Unknown

Summary

Retail Checking Account Protection Act of 2016 This bill amends the Federal Deposit Insurance Act to provide that the stable retail deposits of an insured depository institution shall not be considered to be funds obtained by or through a deposit broker. Currently, stable retail deposits are considered brokered deposits. As a result, those deposits are subject to restrictions applicable to other brokered deposits, such as prohibitions on undercapitalized banks accepting brokered deposits. This bill would exclude stable retail deposits from those restrictions.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Williams, Roger [R-TX-25]

TX • R

Cosponsors

  • Rep. Moore, Gwen [D-WI-4]

    WI • D

    Sponsored 7/7/2016

Roll Call Votes

No roll call votes available for this bill.

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